Regulatory Filings • Dec 22, 2008
Regulatory Filings
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(Clermont-Ferrand – December 22, 2008) – November saw a sharper month-onmonth decline in demand for tires in all European, North American, Asian and South American markets.
In response to this situation, Michelin has cut back significantly on operations in most of its plants worldwide.
This decision, stemming from the current economic environment, will lead to exceptional costs due to under-utilization of capacity, which will amount to nearly 150 million euros in the fourth-quarter accounts.
In this way, Michelin is taking the necessary steps to effectively manage inventories and maintain its flexibility moving into 2009.
Christophe Mazel: Tel +33 (0) 1 45 66 10 04 - +33 (0) 4 73 32 24 53 [email protected] [email protected]
Valérie Magloire : +33 (0) 1 45 66 10 04 - +33 (0) 6 76 21 88 12 [email protected] [email protected]
Jacques-Philippe Hollaender: +33 (0) 4 73 32 18 02 - +33 (0) 6 87 74 29 27 [email protected] [email protected]
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